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Community Centers experienced an increase in vacancy from 16.63% to 18.37%. Rents increased from $9.07 psf to $11.13 psf.

Regional centers experienced a decrease in vacancy from 6.79% to 1.56 % with an increase in rent from $20.85 psf to $29.72 psf. *Market place a Siegen Lane was added to the survey which contributed to the decline in the vacancy rate.

Overall rental rates on existing space increased across the board in 2002.

Vacancy rates decreased across the board as building permits dropped during 2001 and 2002.

The greatest vacancies are found in centers anchored by grocery stores built before 1980. Twelve centers fall into the category, followed by three centers built between 80-84 and two centers built between 85-94.

Florida Blvd. has the greatest number of vacancies, which can be attributed to changes in traffic pattern and growth along I-10 and I-12.

The growth is most predominate in Livingston and Ascension Parishes which are the two fastest growth Parishes in the State.

As a comparison, the Lafayette and New Orleans metro areas will both see projected increases of roughly 18,000 people, about half of the Baton Rouge growth.

Baton Rouge also has the highest average household income (53,000+/-) and the most educated work force in the state with 16% of the population having attained a Bachelor degrees and 8.8% having graduate degrees.

These demographic influences should help fuel continued retail growth in our market.